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>> Thank you very much.>> Surrounded by US Steel executives in the Oval Office, President Trump launching an investigation Thursday into whether Chinese and other foreign made steel poses a threat to national security. Reuters' correspondent Luciana Lopez says few people think it actually does with one notable exception.
>> The steel industry points out that their product is ubiquitous and it is necessary to keep the United States running. But is that enough for it to be a national security threat? That's a really big question and it's one that a lot of people are disputing. I talked to one economist earlier today for example, who said, no this is not a national security issue.
So if it's not necessarily a national security threat, or at least not to everyone, what is it? Well, it's one way for Trump to talk directly to his voters and to say, he wasn't just talking tough on China on the campaign trail, he's actually going to do something about it.
>> China is the largest national producer of steel, and it's exports account for 26% of the US market. And it's sold cheap, often undercutting American producers. Thursday's move seemed by some as a way to counterbalance recent and unusually kind words for China which Trump used to call a currency manipulator.
>> I have great respect for the President of China.>> Trump invoking a rarely used trade law that raises the possibility of new tariffs which triggered a rally in US steel stocks. In 2001, a commerce department investigation found "no probative evidence" that imports of steel threatened to impair US national security.